U.S. stocks open lower: China reopening nears, worries about jobs data linger

0
20

U.S. stock indexes opened lower on Monday as China began easing its COVID-19 restrictions in major cities, while investors awaited more economic data ahead of next week’s Federal Reserve policy meeting. The S&P 500 SPX, -0.85% fell 0.6%, while the Dow Jones Industrial Average DJIA, -0.65% declined 0.7% and the Nasdaq Composite COMP, -0.86% shed 0.5%. The 10-year Treasury yield advanced to 3.550% from 3.502% on Friday. Several Chinese cities relaxed movement curbs and testing mandates over the weekend, raising hopes for a broader scaling back of the world’s most stringent anti-COVID controls. On Monday, commuters in Beijing and at least 16 other cities were allowed to board buses and subways without a virus test in the previous 48 hours for the first time in months. Shares of Chinese and Hong Kong stocks rallied on Monday, while the U.S.-traded Chinese stocks are on pace to book their biggest advance since at least March.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleU.S. stocks open lower as yields rise on hopes of China COVID policy relief
Next articleIn One Chart: The market is getting in the way of the Fed pivot the market so badly wants, say Bank of America strategists

LEAVE A REPLY

Please enter your comment!
Please enter your name here